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Final interest rate decision of 2020


December, 2020: 

The Reserve Bank of Australia (RBA) has held the official cash rate at the historic low of 0.1 per cent, a decision that was widely predicted, following last months rate cut of 15 basis points.

RBA Governor Philip Lowe in his monetary statement said the bank is doing its best to revive the nation from its current COVID-19 recession.

"In Australia, the economic recovery is under way and recent data have generally been better than expected. This is good news, but the recovery is still expected to be uneven and drawn out and it remains dependent on significant policy support," Mr Lowe said.

The RBA's next cash rate meeting will be in February, 2021. 

For the official RBA article, please visit the Reserve Bank’s website.